New Delhi, Sept. 14 -- India's merchandise exports contracted for the second time in August in the current fiscal year, while imports shrank for the third consecutive month, signalling that rising protectionism and trade tensions between the US and China are impacting India's trade prospects as well.
Data released by the commerce ministry on Friday showed that India's merchandise exports declined 6.05% in August, while merchandise imports dropped 13.45%, leading to a trade deficit of $13.45 billion.
The trade deficit stood at $17.92 billion in August 2018.
China's exports in August fell 1%, while imports shrank 5.6%, as the trade war intensified with the US.
Aditi Nayar, principal economist, ICRA Ltd, said sharp contraction in gold and ...